Jack Dorsey's Block Discloses $2.2 Billion Bitcoin Treasury Reserve, Holding 28,355 BTC and Enabling On-Chain Validation

On April 28, Block Inc.—Jack Dorsey’s payment company—released its Q1 2026 Bitcoin Reserve Proof of Reserves (PoR) report, disclosing it held 28,355 BTC as of March 31, worth roughly $2.2 billion at current market prices. Of that total, ~19,357 BTC (valued at ~$1.5 billion) are user custody assets, while the company’s own holdings stand at 8,997 BTC (~$692 million). These reserves have been audited by a third-party firm and cover operations including Square and Cash App. Block emphasized users “should not rely solely on trust but should be able to independently verify Bitcoin reserves,” adding anyone can confirm holdings via on-chain signatures. Notably, since FTX’s collapse, more crypto firms have adopted PoR to boost transparency—though Michael Saylor previously publicly opposed disclosing on-chain reserve addresses, arguing it could create security risks. Per its financial update, Block will release its official Q1 earnings report on May 7. The company posted a Q4 2025 net profit of $115.7 million, down from $1.9 billion in the same 2024 period.